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News - Irish Life Corporate Business

Posted on February 06, 2018

Government to launch review of auto-enrolment and State penion 

Posted on February 05, 2018

A survey by Chartered Accountants Ireland members found 96pc in favour of pension auto-enrolment.

 

Posted on February 02, 2018
The news that VW tested diesel engine emissions by exposing monkeys to the fumes is a PR disaster for the company - another one. But will it matter to its bottom line? Or will the negative findings of the tests harm the diesel market? From Germany, Berlin Correspondent Derek Scally, and from his desk, Motoring Editor Michael McAleer are here to tell us.
 
After that, in our monthly focus on the business of sport, Ciaran and Michael O'Keeffee of Teneo PSG talk to IRFU CEO Philip Browne about the Rugby World Cup bid, doing a deal with TV3, the price of Six Nations tickets and more.
 
Finally, Michael fills Ciarán in on all the big sports business stories of the moment.
 

 

Posted on January 30, 2018

How has the Trump economy so totally confounded the negative expectations of a year ago?

What did we learn about the tracker mortgage scandal from AIB CEO Bernard Byrne's appearance at the Oireachtas finance committee ?

And what is stopping us from making real competitors to Dublin out of places like Cork and Limerick, before the entire country becomes a commuter belt and the M50 finally grinds to a permanent halt?

In part one of today's Inside Business podcast, Business Editor Ciarán Hancock probes Cliff Taylor and Eoghan Burke-Kennedy for answers to those questions.

In part two, Markets Correspondent Joe Brennan reports on the goings-on at the World Economic Summit in Davos, Switzerland.

 

Posted on January 24, 2018

Cancer is the leading cause of death and illness in Ireland as Irish Life pays out €187.8 million in claims during 2017

  • €129.7 million paid out in Life Insurance to 1689 families for people who died
  • 2,582 claims paid across Life Insurance, Specified Illness and Terminal Illness Cover
  • €53.7 million paid to 853 people for Specified Illness Cover claims – over a third of these were aged under 50
  • Claims report reveals that over half of women died from cancer, compared to 38% of men
  • Breast cancer was found to be the main cancer for Specified Illness Cover claims
  • Heart-related conditions still the most common cause of death or illness for more men than women according to claims data
  • Women claiming at an earlier age than men – average age of 64 years for female Life Insurance claims and just 51 years for Specified Illness cover, 4 years earlier than men
  • Accidental deaths accounted for 25% of Life Insurance claims for people under 40
Posted on January 22, 2018

Irish Life Corporate Business are delighted to be announced as finalists for this February's Digital Media Awards.

We will be competing in two categories; Best Use of Mobile and Best Technology Innovation. 

The Awards Ceremony will take place on 16 February 2018.

Posted on January 22, 2018
For the past number of years, Irish Life has sent a communication to all members of Defined Contribution (DC) schemes. This communication was called the “Pension Pulse Statement” and it was issued 3 months after the Annual Benefit Statement. The purpose of the Pension Pulse Statement was to show DC members:
 
An estimate of the income they could expect each year when they retire based on the estimated value of the pension fund at normal retirement age
Whether they are on track for a target of 1/3rd of salary plus the State Pension in retirement 
Where they were not currently using a lifestyle strategy, it highlighted the risk rating of the funds they were invested in.
 
These are important messages. We will continue to provide members with important information like this about their pension savings in their annual benefit statements and through our online services.
 
However, from 1 April 2018, we will no longer be sending the Pension Pulse Statement by post to a DC member’s home address. Instead, members will have access to this information on a daily basis via our personalised online pension system, Pension Planet Interactive.
 
 
DC members can view their values, projections and investment risk ratings online. This means the information is based on real-time data so it is a much better way to engage and communicate with DC members. 
 
Posted on January 22, 2018
We are delighted to announce that Irish Life Staff Charities donated an incredible total of €340,000 to two Irish charities last year. The funds were raised throughout 2017 by employees through various fundraising initiatives undertaken and the amount was then matched by Irish Life to reach this final total.
 
Each year, the Irish Life Staff Charities committee shortlists a number of Irish charities to receive donations collected throughout the year and the final two are selected by Irish Life employees. Last year the charities chosen were MS Ireland, and CMRF Crumlin. Each charity received a fantastic donation of €170,000 to help provide support services, equipment needs, and critical research funding.
 
 
Since its inception, the Irish Life Staff Charities initiative has raised in excess of €2.5 million for a wide range of Irish and international charities.
 
Commenting on the donation by Irish Life, David Harney, Group Chief Executive, said; “We are delighted to donate this significant amount to two exceptional charities this year. Supporting those in need is integral to our culture at Irish Life, and our charity work and the amount we have raised reflects this. I’m honoured to lead a team that is so supportive of our fundraising initiatives, giving their time and support for such worthy causes”.
 
Posted on January 18, 2018

A study of executive salaries at Irish companies by the Irish Congress of Trade Unions (Ictu) released this week, shows the gap between the pay packets of chief executives and the average worker is widening, while bonuses are on the up.

Laura Slattery is joined by Ictu's Dr Peter Rigney, Global FDI director at Morgan McKinley Trayc Keevan and Irish Times business affairs correspondent Mark Paul to discuss the findings.

Also on the show: the CSO has introduced its Labour Force Survey to replace the Quarterly National Household Survey as the most accurate barometer of conditions in the Irish labour market. Eoin Burke Kennedy explains what it says about the state of Irish employment.

Posted on January 10, 2018

Ireland’s population is ageing fast and at twice the EU average, with only one in four adults planning towards a specific level of retirement income. Irish Life supports the argument for introducing auto-enrolment for pensions, this and other topics were discussed at Tuesday's media briefing.

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